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Belt and Road initiative makes major impact on the world (I)

Editor: Li Kun 丨CCTV.com

11-03-2015 10:56 BJT

By Liu Lili, Xinhua News Agency Reporter

During Chinese President Xi Jinping's recent visit to the United Kingdom, the British expressed their support for the Belt and Road initiative. Nearly 10 countries are directly involved, some other countries offer indirect support. The initiative can promote social and economic development for all nations participating.

Asia and Europe: a comprehensive dock

Asia and Europe are the core areas for the Belt and Road construction, along with a Eurasian destiny community.

Masaleynikov, head of the Department of Teaching and Research on Economics and Finance of the Russia Institute of Modern Development said his nation’s down-trodden infrastructure is restricting its economic development.

Moscow supports a trans-European-Asian corridor to upgrade Russian infrastructure. The 770 km high-speed rail between Moscow and Kazan has been integrated into future Russian rail transport development plans.

In his State of the Union address in November 2014, Kazakhstan President Nursultan Nazarbayev presented the "Bright Path" new economic plan. He promoted infrastructure, especially large-scale construction transportation projects to stimulate the economy.

The Belt and Road Initiatives and the Bright Path new economic plan complement each other. Kazakhstan hopes to accelerate its economic transformation and diversification. The Kazakhstan Ambassador Nur Ray Scherf to China said both sides have endorsed more enhanced bilateral economic cooperation.

The Mongolia "Meadow Passage" and Belt and Road initiatives also overlap. Mongolia's economy is at a low ebb right now.  Both initiatives would inject new vitality into its economic development.

Asia- Pacific: see the opportunities

In Laos, the China-Laos railway is a major project via the "Belt and Road Initiatives", and part of the pan-Asia railways line. Laos Minister of Public Works and Transport said the project is expected to cost $6.8 billion, co-financed by the governments and ventures from both countries.

They will form a joint venture with scheduled completion time of about 5 years. Laotians support the China-Laos railway. They do not like being a landlocked developing country. Traffic improvements can reduce logistics costs for both countries.

The China-Thai railway project is also an important part of the pan-Asian Railways. On October 28-29, the two parties held the 8th meeting of China-Thai Railway Joint Commission in Beijing and signed an agreement on the overall planning for railways cooperation  between the two governments. Both sides will make efforts to start the project before the end of 2015.

The Brunei government sees development opportunities from the Belt and Road Initiatives that coincide with the launch of its "vision 2035" blueprint.

Brunei hopes to strengthen cooperation with Chinese port cities to enhance maritime inter-operability and to build  "the 21st Century Maritime Silk Road". Although separated by oceans, Australia and China maintain close trade ties. In August 2015, the second round of strategic economic dialogue between Australia and China was held in Canberra.

Both sides have recognized that China's "Belt and Road" initiatives are remarkably similar to Australia's northern development initiatives and national infrastructure projects.

(to be continued)

(Source: Xinhua International APP)

 

( The opinions expressed here do not necessarily reflect the opinions of Panview or CCTV.com. )

 

 

Panview offers a new window of understanding the world as well as China through the views, opinions, and analysis of experts. We also welcome outside submissions, so feel free to send in your own editorials to "globalopinion@vip.cntv.cn" for consideration.

Panview offers an alternative angle on China and the rest of the world through the analyses and opinions of experts. We also welcome outside submissions, so feel free to send in your own editorials to "globalopinion@vip.cntv.cn" for consideration.

 

 

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